In recent weeks, the Fed Cattle Exchange made an effort to improve the original Fed Cattle Exchange platform. They created a new website and platform to host their fed cattle consignments. The primary purpose of the re-design was to add additional features for participants, and improve user experience. After two weeks of technical difficulties, they made the decision to temporarily revert back to the original Fed Cattle Exchange format.
Fed Cattle Exchange will continue to develop the new platform in order to provide participants the best possible experience.
The goal of the Fed Cattle Exchange remains the same: to provide the industry with more transactions to consider when determining the average cash price of market-ready fed cattle. By increasing transparency in the cash cattle market, the industry hopes to reduce volatility in futures contracts. The need for assistance in fed cattle price discovery is very evident. Competitive bidding is the most effective means of determining market value, and more open negotiated trading of fed cattle is beneficial to the entire beef industry. Fed Cattle Exchange brings both of these components to the marketplace and the team behind this effort remains dedicated to that cause.
As a thank you for patience during the transition, the Fed Cattle Exchange has announced that they are waving the listing fees for all consignments for the remainder of June. Therefore, Wednesday June 21 and June 28 will be an opportunity for existing and new participants to market cattle on the system with no listing fee.
Source: fedcattleexchange.com.